Romney Campaign Press Release - A Real Recovery Vs. Four More Years Of A Sluggish Economy

"The middle class has been crushed by the Obama economy. And today's sluggish jobs report reinforced what Americans already knew — we can't afford another four years like the last four years. Manufacturing is in decline and 23 million Americans are still struggling for work. Mitt Romney will deliver a real recovery, with 12 million new jobs and higher take-home pay for American workers." — Ryan Williams, Romney Campaign Spokesman

The Obama Economy's Latest Jobs Report Delivered Even More Disappointment For Struggling Middle-Class Americans:

Americans Who Work In "Manufacturing, Logistics, Or Other Professions That Don't Require A College Degree Are Increasingly Dropping Out Of The Labor Force And Giving Up Looking For Work." "That's because as the country's economy slowly improves, more people who traditionally work in manufacturing, logistics, or other professions that don't require a college degree are increasingly dropping out of the labor force and giving up looking for work." (Alana Semuels, "Jobs Numbers Show Working-Class Voters Struggling," Los Angeles Times, 10/5/12)

Los Angeles Times: "Jobs Numbers Show Working-Class Voters Struggling"(Los Angeles Times, 10/5/12)

"Many Of The Jobs Added Last Month Were Part Time." "Still, many of the jobs added last month were part time. The number of people with part-time jobs who wanted full-time work rose 7.5 percent to 8.6 million." (Christopher S. Rugaber, "US Jobless Rate Falls To 7.8 Pct., 44-Month Low," The Associated Press, 10/5/12)

• "Some 582,000 Americans Took Part- Time Positions Because Of Slack Business Conditions Or Those Jobs Were The Only Work They Could Find."(Alex Kowalski , "U.S. Jobless Rate Declines To 7.8%," Bloomberg, 10/5/12)

"Little Help For The Long-Term Unemployed ... The Average Length Of Unemployment Rose To 39.8 Weeks..." "Little help for the long-term unemployed: The good news on unemployment didn't extend to those hardest hit by the recession, the long-term unemployed. The average length of unemployment rose to 39.8 weeks, reversing August's slight improvement. Two out of every five job seekers has now been out of work for over six months, a figure that's improved little during the recovery." (The Wall Street Journal, 10/5/12)

"The Labor Market Is Still Very, Very Far From Healthy." "There are still 12.1 million unemployed people in the United States and an additional 2.5 million people who would like jobs but are too discouraged to look. Within that group, there are still 4.8 million people who have been jobless for at least 27 weeks. The labor market is still very, very far from healthy."(Brad Plumer, "September Jobs Report: Why The Drop To 7.8% Unemployment Is Good News," The Washington Post, 10/5/12)

Labor Economist Patrick O'Keefe: "The Economy Seems Since The Recovery Began To Have Three Gears, Slow, Idle And Reverse. It's Stuck In Slow. We Don't Have A Gear Faster Than Slow." "'The economy seems since the recovery began to have three gears,' said Patrick O'Keefe, a labor economist and director of economic research at J. H. Cohn, an accounting firm, 'slow, idle and reverse. It's stuck in slow. We don't have a gear faster than slow.'" (The New York Times, 10/5/12)

CNBC's Brian Sullivan: "It's Not Good News For The Economy." CNBC'S BRIAN SULLIVAN: "It's not good news for the economy because as we've talked about you really need 125,000 jobs created a month to keep up with population and immigration growth." (MSNBC's "Morning Joe," 10/5/12)

AEI's James Pethokoukis: "At A 114,000 Jobs A Month, Jobs Gap Won't Close Until After 2025"(Twitter.com, 10/5/12)

Mitt Romney Will Deliver A Real Recovery, With 12 Million New Jobs And Higher Take-Home Pay For Workers:

Mitt Romney Will Deliver A "U-Turn" For The Economy By Implementing Policies That Help Create 12 Million New Jobs By The End Of His First Term. "In contrast to the sclerosis and joblessness of the past three years, the Romney plan offers an economic U-turn in ideas and choices. When bolstered by sound trade, education, energy and monetary policy, the Romney reform program is expected by the governor's economic advisers to increase GDP growth by between 0.5% and 1% per year over the next decade. It should also speed up the current recovery, enabling the private sector to create 200,000 to 300,000 jobs per month, or about 12 million new jobs in a Romney first term, and millions more after that due to the plan's long-run growth effects."  (Glenn Hubbard, Op-Ed, "The Romney Plan For Economic Recovery," The Wall Street Journal, 8/1/12)

Mitt Romney's Tax Reform Plan Will "Increase Growth And Job Creation" By Cutting Rates Across The Board By 20% And Broadening The Tax Base. "Reform the nation's tax code to increase growth and job creation. The Romney plan would reduce individual marginal income tax rates across the board by 20%, while keeping current low tax rates on dividends and capital gains. The governor would also reduce the corporate income tax rate—the highest in the world—to 25%. In addition, he would broaden the tax base to ensure that tax reform is revenue-neutral." (Glenn Hubbard, Op-Ed, "The Romney Plan For Economic Recovery," The Wall Street Journal, 8/1/12)

• According To An Independent, Nonpartisan Analysis, Mitt Romney's Tax Reforms Alone Will Create Nearly 7 Million New Jobs. "The simulations show that such a base-broadening, rate-reducing reform would have significant positive economic effects on the U.S. economy, including increases in investment, the capital stock, employment, and real wages. These gains are in addition to increases in GDP, investment, consumption, and employment that will occur as the U.S. economy continues to recover from the recent recession and as the population grows. Specifically, I find that the reform would, if passed immediately, increase GDP relative to baseline by 5.4 percentage points over the next decade, while creating 6.8 million jobs." (John W. Diamond, "The Economic Effects Of The Romney Tax Plan," Rice University, 8/3/12)

The Romney Plan Will Also Get Our Nation's Spending Under Control And Remove Regulatory Impediments To Job Creation. "The governor's plan would reduce federal spending as a share of GDP to 20%—its pre-crisis average—by 2016. This would dramatically reduce policy uncertainty over the need for future tax increases, thus increasing business and consumer confidence. ... The governor's plan would remove regulatory impediments to energy production and innovation that raise costs to consumers and limit new job creation." (Glenn Hubbard, Op-Ed, "The Romney Plan For Economic Recovery," The Wall Street Journal, 8/1/12)

Columbia University's Glenn Hubbard: "The Romney Approach Will Restore Confidence In America's Economic Future And Make America Once Again A Place To Invest And Grow." (Glenn Hubbard, Op-Ed, "The Romney Plan For Economic Recovery," The Wall Street Journal, 8/1/12)